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US public debt reaches high record of $ 22000 billion

USNMix Report: The huge
burden of debt on the US government, the figure reached over $ 22 billion.

The US public debt record
reached a record high of $ 22,000 billion. This information has been received
from the figures released by the US Department of Finance. The daily statement
issued by the department was told that on February 11, the amount of debt
reached $ 22,000 billion. Peter G., a non-partisan organization dedicated to
America's long-term fiscal challenges.

Peterson Foundation Chief
Executive Officer Michael A. Peterson said, "The national debt has now
reached $ 22,000 billion ($ 22 trillion) because we have added 1,000 billion
debt in the last 11 months."

The Congressional Budget
Office (CBO) had estimated in January that the federal budgetary loss would be
$ 900 billion in 2019 and it would be more than $ 1,000 billion annually from
2022. According to the CBO, due to the ever-increasing deficit, US public debt
will reach 93 percent of its GDP by 2029, and by 2049 it will be 150 percent of
GDP.

Former Federal Reserve
Chairman Alan Greenspan has warned that due to rising public debt in the US,
the next economic downturn could come. Analysts say the tax rebate of $ 1,500
billion by the Trump Administration and the increase in government expenditure
have made rapid increase in both budgetary deficits and public debt.